"The European Union has fined Google $3.5 billion, 2.95 billion euro, for breaking its competition rules by favoring its own digital advertising services. Part of this ruling also says Google is required to divest part of its ad-tech business. This comes from the EU's 2023 ruling where the EU said back then that the only way to solve the anti-competitive issue is to break up parts of Google."
""It imposes an unjustified fine and requires changes that will hurt thousands of European businesses by making it harder for them to make money," Lee-Anne Mulholland, the company's global head of regulatory affairs, said in a statement. Google now has 60 days to inform the commission about how it intends to comply. If it does not, Brussels warned that the alleged offences can only be resolved by forcing the company to sell off parts of its business."
European Union regulators fined Google €2.95 billion ($3.5 billion) for favoring its own digital advertising services and ordered divestiture of parts of its ad‑tech business. The decision requires Google to end self‑preferencing practices and take steps to stop conflicts of interest along the advertising technology supply chain. The penalty follows earlier EU fines in 2016 and 2018 and is the bloc’s fourth major antitrust sanction against Google. Google called the fine unjustified, said the decision was wrong and announced plans to appeal. Google has 60 days to propose compliance; Brussels warned it may force sales if remedies are inadequate.
Read at Search Engine Roundtable
Unable to calculate read time
Collection
[
|
...
]